Ocwen Financial Corporation (NYSE:OCN) hit a new 52-week high Wednesday as it is currently trading at $27.80, above its previous 52-week high of $27.70 with 288,912 shares traded as of 10:20 a.m. ET. Average volume has been 1.5 million shares over the past 30 days.
Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model NEW YORK ( TheStreet) -- Ocwen Financial Corporation (NYSE: OCN) hit a new 52-week high Wednesday as it is currently trading at $27.80, above its previous 52-week high of $27.70 with 288,912 shares traded as of 10:20 a.m. ET. Average volume has been 1.5 million shares over the past 30 days. Ocwen Financial has a market cap of $3.72 billion and is part of the financial sector and banking industry. Shares are up 89% year to date as of the close of trading on Tuesday. Ocwen Financial Corporation, through its subsidiaries, provides residential and commercial mortgage loan servicing, special servicing, and asset management services in the United States and internationally. The company has a P/E ratio of 37.8, below the average banking industry P/E ratio of 38.3 and above the S&P 500 P/E ratio of 17.7.
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TheStreet Ratings rates Ocwen Financial as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance and impressive record of earnings per share growth. However, as a counter to these strengths, we find that the stock itself is trading at a premium valuation. You can view the full Ocwen Financial Ratings Report. See all 52-week high stocks or get investment ideas from our investment research center. FREE from Real Money's Jim Cramer: Winners and Losers Election 2012 - Steps to take NOW so you can profit no matter who is in charge! Free download now.